New developments in entrepreneurship finance: Platform finance

With the onset of the 2008 global financial crisis and the aftermath of the crisis, the search for new alternative ways to finance various projects is accelerating. The financing and resources required for the realization of entrepreneurship always stand out as the most important problem. It is much more difficult to reach and obtain the right and useful resources than to implement the initiatives. In order to achieve this, it will be necessary to be aware of all alternative sources and evaluate them by comparing them. In this, the entrepreneur needs to know the options of alternative sources. The emergence of intelligent digital tools brings the fintech industry with it. Fintech offers a financing channel with many new alternative financing ways (crowdfunding), completely changing financial services all over the world. The study aims to try to identify (explain) digital entrepreneurship finance for entrepreneurs and to determine which type of model would be more suitable, compared with traditional entrepreneurship finance and digital entrepreneurship finance, and new alternative sources in the financing of business ideas that entrepreneurs want to implement by providing economic and social benefits will be explained. Alternative financial instruments that entrepreneurs will resort to address their financial inadequacies will be presented, a suitable approach to digital entrepreneurship finance (equity-based crowdfunding, peer-to-peer loan, initial coin offering and security token Offering). In this, entrepreneurs need to know alternative resource options. Information asymmetry, moral hazard, and agency costs of digital entrepreneurship finance or crowdfunding (equity-based crowdfunding, peer-to-peer loan, and initial coin supply) will be examined and presented. As a result it has been compared to traditional entrepreneurial finance and digital entrepreneurship finance or crowdfunding, but there are important differences between them. Initial coin offerings and security tokens emerged as new alternative financing. Digital entrepreneurial finance or crowdfunding (equity-based crowdfunding, peer-to-peer loan, initial coin offering and security token Offering) is an appropriate approach to alternative financial instruments used to address entrepreneurs' financing inadequacies. Information asymmetry plays an important role in determining the success and failure of a crowdfunding project.